Something is happening to the Cryptocurrency division of Facebook

Something is happening to the Cryptocurrency division of Facebook. Movements in the Zuckerberg home on the blockchain front ...

Something is happening to the Cryptocurrency division of Facebook - zuckerberg png

It is not entirely clear what is happening in the nascent division cryptocurrency note of Facebook, but several analysts suggest that something big is underway.

In particular, the first indiscretion comes from Business Insider, which reports that the research group Facebook blockchain he recently met Stellar to discuss how the social media conglomerate could exploit DLP (distributed ledger technology) by potentially exploring the creation of a payment network.

According to anonymous sources, the two sides discussed how Facebook could throw the blockchain public of Stellar, just as did the Kik chat app after deciding to create an independent blockchain for its Kin cryptocurrency rather than piggybacking on the main Stellar network. It is also said that the task force has met other holders of cryptocurrency projects, without specifying who it is.

The analysis also shows that Facebook has rapidly expanded its blockchain division in recent months, ever since a recruitment announcement called the Zuckerberg group a “one startups of Facebook, with the aim of integrating blockchain technology on a scale and improving the lives of billions of people around the world ".


Another indiscretion of the last days is that reported by CoinDesk, according to which David Marcus, a vice president of Facebook and the former head of the Messenger division, resigned from his position on the board of directors of Coinbase, a role he originally assumed in the cryptocurrency giant last December.

Marcus, as reported by CCN, left his role in Messenger in May to lead the blockchain division of Facebook, where he reports directly to the CTO of Facebook Mike Schroepfer.

A spokesperson for Coinbase stated that Marcus had resigned to avoid the appearance of a conflict of interest, thus leading to speculation that Facebook was preparing to make an important announcement regarding its cryptocurrency plans.